Did you know that over the recent couple of years, as much as 43 – 44% of soybeans grown in Illinois are exported? Efficient transportation systems and sound infrastructure can help ensure Illinois soybean farmers maintain a competitive advantage in the global marketplace. Learn the latest on transportation in this monthly update.
Transportation Update, May 2015
Soybean Basis Remains Steady
With harvest pressures over, basis has largely held steady for soybeans and corn. The latest soybean basis maps reflect a slight strengthening over the last 30 days from St. Louis eastward across Illinois and into Indiana and Ohio. As the focus turns to planting the 2015 crop, a careful eye may identify basis opportunities for sales of 2014 commodities.
River Navigation Becoming More Important as a Freight Corridor
Analysis of U.S. Army Corps of Engineer data shows that the volume of ag products traveling downriver on the Mississippi from various Illinois loading points has decreased between 2005 and 2013. It also shows more commodities are being loaded onto barges south of the locking system. Conversely, the data reflects an increase in ag products (primarily feed products) moving upriver over the same time period.
ISA recognizes the role our state’s 1,100 miles of navigable waters play in global commodity transport. To this end, ISA is leading a public-private partnership pilot project (P5) initiative as a demonstration project in collaboration with USACE, commodity groups and industry stakeholders to maintain the eight existing locks on the Illinois River. Learn more about the P5 here.
Data analysis is provided by Informa Economics.